More HDB flats being transacted at or below valuation: SRX
Property analysts say the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
SINGAPORE: More Housing and Development Board (HDB) resale flats are being transacted at or below valuation. According to latest figures from the Singapore Real Estate Exchange (SRX), about 8,500 HDB resale flats changed hands in 2014.
In the fourth quarter of the year, 41.6 per cent were sold below valuation, compared to 36.9 per cent in the first three months of the year.
For transactions at valuation, these climbed from 15.7 per cent of all transactions in the first quarter to 37.6 per cent in the fourth quarter. On the other hand, the number of transactions above valuation fell from almost 48 per cent of all transactions in the first quarter to 20 per cent in the fourth quarter.
Property analysts said the overall trend is a result of several factors, including a weaker market sentiment and changes to HDB resale procedures put in place last March.
Mr Nicholas Mak, executive director for research and consultancy at SLP International Property Consultants, said: "As buyers and sellers start to be more familiar with these procedures, we also see that the percentage of transactions that were done above valuation has also fallen to just 20 odd per cent. And I think this also shows that the market is starting to stabilise."
- CNA/ms
- wong chee tat :)
Thursday, January 29, 2015
Nurses, sales assistants toughest vacancies to fill by locals: MOM statistics
Nurses, sales assistants toughest vacancies to fill by locals: MOM statistics
Registered nurse was identified as the top PMET position to fill, while shop sales assistants took the position for non-PMET occupations, according to latest data from the Manpower Ministry.
SINGAPORE: The number of job vacancies rose to 67,400 as of September 2014 - an 8.9 per cent increase from 61,900 in 2013. Registered nurses and shop sales assistants were the toughest positions to fill by locals, according to latest data released by the Manpower Ministry (MOM) on Tuesday (Jan 27).
Of the vacancies, service and sales workers were in keen demand, representing 25 per cent of total vacancies, or 15,330 specifically. The positions included shop sales assistants, security guards and waiters, according to the press release.
In September 2014 itself, four in five of all vacancies were from the services industry. The bulk of vacancies came from community, social and personal services, healthcare and tertiary institutes, it added.
HARD TO HIRE LOCALS FOR SOME JOBS
In terms of professionals, managers, executives and technicians (PMETs), the data showed that registered nurse was in top spot for occupations hard to fill by locals. There were 720 vacancies as at September, with the top reason cited being too much competition from other employers.
Enrolled/assistant nurse - with 650 vacancies - and software, web and multimedia developer were in second and third spot respectively. Major reasons for these positions being difficult to fill were unattractive pay, a preference for a shorter work week and a reluctance to do shift work for the former, and lacking necessary work experience for the latter, according to the data.
As for non-PMET positions, shop sales assistants, security guards and waiters were the top three occupations that were hard to fill by locals, MOM stated.
A human resource expert said companies need to offer more competitive pay packages to attract and retain local employees.
Mr Ian Grundy, marketing and communications head for Asia at Adecco, said: “Some companies are struggling to fill vacancies because they are not paying a competitive salary. In a tight labour market like Singapore, you have got to be paying a competitive salary, you have got to be giving good bonus, and you have got to be giving good vacation allowance.
“This is because job seekers have got lots of choice, and if a company is not giving them something that is really attractive, they are going to go somewhere else. And what is happening from that as a result is that we are seeing a lot of jobs left open over a long period time."
The proportion of vacancies unfilled for at least six months (41 per cent) and those hard to fill by locals (67 per cent) were broadly unchanged from a year ago, as the labour market remained tight, the ministry added. Mr Grundy expects job vacancies to continue to rise this year.
- CNA/kk/ms
- wong chee tat :)
Registered nurse was identified as the top PMET position to fill, while shop sales assistants took the position for non-PMET occupations, according to latest data from the Manpower Ministry.
SINGAPORE: The number of job vacancies rose to 67,400 as of September 2014 - an 8.9 per cent increase from 61,900 in 2013. Registered nurses and shop sales assistants were the toughest positions to fill by locals, according to latest data released by the Manpower Ministry (MOM) on Tuesday (Jan 27).
Of the vacancies, service and sales workers were in keen demand, representing 25 per cent of total vacancies, or 15,330 specifically. The positions included shop sales assistants, security guards and waiters, according to the press release.
In September 2014 itself, four in five of all vacancies were from the services industry. The bulk of vacancies came from community, social and personal services, healthcare and tertiary institutes, it added.
HARD TO HIRE LOCALS FOR SOME JOBS
In terms of professionals, managers, executives and technicians (PMETs), the data showed that registered nurse was in top spot for occupations hard to fill by locals. There were 720 vacancies as at September, with the top reason cited being too much competition from other employers.
Enrolled/assistant nurse - with 650 vacancies - and software, web and multimedia developer were in second and third spot respectively. Major reasons for these positions being difficult to fill were unattractive pay, a preference for a shorter work week and a reluctance to do shift work for the former, and lacking necessary work experience for the latter, according to the data.
As for non-PMET positions, shop sales assistants, security guards and waiters were the top three occupations that were hard to fill by locals, MOM stated.
A human resource expert said companies need to offer more competitive pay packages to attract and retain local employees.
Mr Ian Grundy, marketing and communications head for Asia at Adecco, said: “Some companies are struggling to fill vacancies because they are not paying a competitive salary. In a tight labour market like Singapore, you have got to be paying a competitive salary, you have got to be giving good bonus, and you have got to be giving good vacation allowance.
“This is because job seekers have got lots of choice, and if a company is not giving them something that is really attractive, they are going to go somewhere else. And what is happening from that as a result is that we are seeing a lot of jobs left open over a long period time."
The proportion of vacancies unfilled for at least six months (41 per cent) and those hard to fill by locals (67 per cent) were broadly unchanged from a year ago, as the labour market remained tight, the ministry added. Mr Grundy expects job vacancies to continue to rise this year.
- CNA/kk/ms
- wong chee tat :)
Resale prices of private homes fall further in December: SRPI
Resale prices of private homes fall further in December: SRPI
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
The overall resale prices of private homes fell 1.2 per cent on-month in December, with prices of homes in the central region leading the decline, according to the Singapore Residential Price Index flash estimates.
SINGAPORE: Resale prices of private homes fell again in December, according to Singapore Residential Price Index (SRPI) estimates released on Wednesday (Jan 28).
The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 1.2 per cent in December from the previous month. In November, prices fell 0.4 per cent from a month earlier.
Prices of homes in the central region, excluding small units, led the decline with a 1.7 per cent fall. Prices of homes in the non-central region, excluding small units, fell 0.8 per cent in December from November.
In contrast, prices of small units, which have a floor area of 506sqf or below, rose 0.5 per cent from the previous month.
- CNA/cy
- wong chee tat :)
Sengkang temple site not meant for commercial columbarium: MND
Sengkang temple site not meant for commercial columbarium: MND
The Ministry of National Development is in discussions with Eternal Pure Land to see how the land can be restored to the original plan of a Chinese temple, Minister Khaw Boon Wan says.
SINGAPORE: The decision to award a site designated as Place of Worship to a company not affiliated to a religious organisation is a first for the Government, said National Development Minister Khaw Boon Wan in Parliament on Thursday (Jan 29).
Mr Khaw said the Ministry of National Development is "in discussion" with Eternal Pure Land to "ensure that the land is restored to the original plan of a Chinese temple". He was responding to questions posed by MPs Seng Han Thong, Lee Li Lian and Lee Bee Wah.
"We now understand that the winning tenderer for this site, Eternal Pure Land, is actually a private company without any religious affiliation. From what we know, the plan of the company is to run a commercial columbarium on the site," the minister said. "This is not in line with our plan for the Places of Worship site."
He added that many temples provide an incidental columbarium service for their members and devotees, and whether the eventual temple in Sengkang will provide such a service is a decision for the temple trustees to make.
Mr Khaw said a review to improve land tender process for Places of Worship was launched late last year, for example by tightening eligibility requirements for tenderers.
"We have been engaging religious groups on the review. The Sengkang temple case has highlighted the necessity for such a review. I will provide more information when the review is completed," he stated.
The current tender process allows for religious organisations and companies to participate. This is because some of the religious organisations form companies to enable and facilitate their ownership and development of such sites.
"This has been the practice since 1991 when State Lands were put up for tenders for Places of Worship use. The assumption is that only companies affiliated to religious organisations would participate in such tenders," he added. Since 1991, seven sites have been won by companies, all affiliated to religious organisations.
Previously, property owners in Sengkang were up in arms over plans to build a Buddhist temple with columbarium services near their new homes, despite measures to mitigate possible inconveniences for residents being put in place.
The Housing and Development Board and Urban Redevelopment Authority indicated that plans for a columbarium at a Chinese temple planned in Sengkang can go ahead, despite objections from residents.
- CNA/kk
- wong chee tat :)
The Ministry of National Development is in discussions with Eternal Pure Land to see how the land can be restored to the original plan of a Chinese temple, Minister Khaw Boon Wan says.
SINGAPORE: The decision to award a site designated as Place of Worship to a company not affiliated to a religious organisation is a first for the Government, said National Development Minister Khaw Boon Wan in Parliament on Thursday (Jan 29).
Mr Khaw said the Ministry of National Development is "in discussion" with Eternal Pure Land to "ensure that the land is restored to the original plan of a Chinese temple". He was responding to questions posed by MPs Seng Han Thong, Lee Li Lian and Lee Bee Wah.
"We now understand that the winning tenderer for this site, Eternal Pure Land, is actually a private company without any religious affiliation. From what we know, the plan of the company is to run a commercial columbarium on the site," the minister said. "This is not in line with our plan for the Places of Worship site."
He added that many temples provide an incidental columbarium service for their members and devotees, and whether the eventual temple in Sengkang will provide such a service is a decision for the temple trustees to make.
Mr Khaw said a review to improve land tender process for Places of Worship was launched late last year, for example by tightening eligibility requirements for tenderers.
"We have been engaging religious groups on the review. The Sengkang temple case has highlighted the necessity for such a review. I will provide more information when the review is completed," he stated.
The current tender process allows for religious organisations and companies to participate. This is because some of the religious organisations form companies to enable and facilitate their ownership and development of such sites.
"This has been the practice since 1991 when State Lands were put up for tenders for Places of Worship use. The assumption is that only companies affiliated to religious organisations would participate in such tenders," he added. Since 1991, seven sites have been won by companies, all affiliated to religious organisations.
Previously, property owners in Sengkang were up in arms over plans to build a Buddhist temple with columbarium services near their new homes, despite measures to mitigate possible inconveniences for residents being put in place.
The Housing and Development Board and Urban Redevelopment Authority indicated that plans for a columbarium at a Chinese temple planned in Sengkang can go ahead, despite objections from residents.
- CNA/kk
- wong chee tat :)
Nearly 14,700 foreign spouses on long-term visit passes in Singapore
Nearly 14,700 foreign spouses on long-term visit passes in Singapore
Deputy Prime Minister Teo Chee Hean gave this update, after NCMP Gerald Giam asked in Parliament how many foreign spouses of Singapore citizens have social visit passes, Long Term Visit Passes and an immigration status.
SINGAPORE: As of Dec 31, 2014, there were 14,694 foreign spouses in Singapore on a Long Term Visit Pass (LTVP) or a Long Term Visit Pass-Plus (LTVP+).
Deputy Prime Minister Teo Chee Hean gave this update in written parliamentary reply on Thursday (Jan 29) to a query from Non-Constituency Member of Parliament Gerald Giam. Mr Giam had asked about the number of foreign spouses who have social visit passes, LTVP and an immigration status which makes them ineligible to work in Singapore.
Mr Teo, who is also the Home Affairs Minister and Coordinating Minister for National Security, said details on the number of foreign spouses who enter Singapore as social visitors is not available. He said the Immigration and Checkpoints Authority does not track this statistic.
- CNA/xk
- wong chee tat :)
Deputy Prime Minister Teo Chee Hean gave this update, after NCMP Gerald Giam asked in Parliament how many foreign spouses of Singapore citizens have social visit passes, Long Term Visit Passes and an immigration status.
SINGAPORE: As of Dec 31, 2014, there were 14,694 foreign spouses in Singapore on a Long Term Visit Pass (LTVP) or a Long Term Visit Pass-Plus (LTVP+).
Deputy Prime Minister Teo Chee Hean gave this update in written parliamentary reply on Thursday (Jan 29) to a query from Non-Constituency Member of Parliament Gerald Giam. Mr Giam had asked about the number of foreign spouses who have social visit passes, LTVP and an immigration status which makes them ineligible to work in Singapore.
Mr Teo, who is also the Home Affairs Minister and Coordinating Minister for National Security, said details on the number of foreign spouses who enter Singapore as social visitors is not available. He said the Immigration and Checkpoints Authority does not track this statistic.
- CNA/xk
- wong chee tat :)
Thoughts for last week
It was quite a busy week for me. Lots of things to rush out.
- wong chee tat :)
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